The real estate market is on fire here in Puerto Peñasco and with a hot market comes diminished inventories meaning it gets harder to find that perfect dream home you are searching for. Despite the lower inventory, there are some great new home construction opportunities located “in-town” at entry level prices that would make an excellent vacation home or a rental property.
San Besitos Norte
A new home construction project is underway in the neighborhood of Brisas Del Golfo which is near Sam’s Club, Bodega, coffee shops, a movie theater and more. This is a planned development that will be 40 homes in total complete with features such as underground electric, modern designs, spacious open concept designs, quartz countertops, custom cabinetry, appliances and more.
There are three models to choose from which are the Abrázame a 800 sq ft., 2 bedroom, 1 bath home, 1 car garage priced at $72,000; the Quiéreme which is a 922 sq ft., 2 bed, 2 bath home, 1 car garage priced at $86,000; and the Extráñame which is a 1197 sq ft., 3 bed, 2 bath home with 2 car garage priced at $106,000.
Each home comes with a fully fenced in front and backyard providing excellent privacy and security. These are turn key homes are complete with all mechanical components such as HVAC mini-splits in each room all with heat pumps, hot water tank, pump for great water pressure, cistern for a backup water supply, garage with door opener, propane tank, upgraded lighting package and more. Homes are connected to city water and sewer.
San Besitos Norte is a unique concept that does not require an HOA FEE but a optional community-use fee of $50 which can be paid for access to a private owners area that will have an inground pool, three outdoor kitchens, parks, gardens, sitting and reading areas. You can use the area to have family parties, a cookout with friends, swim, read and relax. Access will be given to those by using a passcode that is updated each month. Enter the passcode at the security door and you will gain access.
Can Foreigners Purchase Real Estate?
A common question that gets asked is, “Is it possible to own property in Mexico and how does that work?” The great news is YES as a foreigner traveling or living in Mexico you can purchase property through what is known as a Bank-Trust or Fideicomiso in Spanish. A Bank Trust is an agreement where the bank acts as a trustee and manages the ownership of the land along with any improvements and names the purchaser or anybody you choose to be as the beneficiary.
Bank Trusts are written for up to 50 years and they are renewable for any number of additional 50-year periods. If you assume an existing Bank Trust, make sure that there are enough years left in the trust that is satisfactory to you. There is annual fee for a bank trust which varies depending on the bank from $400-$800.
For more information about San Besitos or any property for sale here please contact any AMPI-affiliated Real Estate Advisor.
About the author: Joseph Sanchez is president of Rocky Point Home Builders a design/build contractor specializing in custom home design, construction and engineered renovations and a real estate agent with RE/MAX Legacy. He resides here in Puerto Peñasco with his wife and three children and is originally from Chicago. For more information email him at firstname.lastname@example.org
Day 3 Photo – A new home construction project is underway in the neighborhood of Brisas Del Golfo which is near Sam’s Club
Noche 1 Photo – Despite the lower inventory there are some great new home construction opportunities located “in-town” at entry level prices